We currently have about 80000 in credit card debt and he just lost his job, reasons why we are selling some property. 

We would meet once a month and just hold each other accountable for the steps we are all taking in building our RE business. 

Hi everyone, We are looking into a deal to purchase a 5 unit apartment building that currently operates as a short term rental.

We are also licensed in FL.

For a lot of things you can just look up material costs and assume the same for labor. 50% material and 50% labor holds roughly true for the entire project, at least for me here in Milwaukee, your labor cost will probably be higher in the Bay Area.100-125k spread would be tight, even for me here in Milwaukee.

At the moment we are renting in Mission Viejo California.

Low 7s is probably the right range right now, however we are still funding a good amount in the sixes range right now as well.Many thanks for any insights & guidance.Tim 

I know most of your comment aim at people who probably start with 20K and bring small properties. we are planing on investing 250k to 500k as a 25% down payment a year, hence the question.

We are not meeting operational costs plus P/I.  

We are wondering how to go about showing proof of funds if the deal ends up being an on-market deal.Any advice would be helpful.